![]() ![]() Serco repaid £68.5 million to the government for its overcharging on the contract. The firm issued a profit warning for 2014 as a result of the costs of becoming embroiled in an electronic tagging scandal. Serco, as well as its rival G4S, was accused of overcharging the Ministry of Justice on its contract to tag offenders. In Britain Serco supplies electronic tagging devices for offenders and asylum seekers. Serco also was part of a consortium running the UK's National Nuclear Laboratory under contract, until October 2013. Serco managed the UK's National Physical Laboratory until 2015 and also provides IT Services, Industrial Support and Cryogenic Operations Support and Maintenance at CERN. Serco's Home Affairs division operates speed camera systems throughout the UK and, until November 2013, designed, wrote and tested the software that controls the matrix message signs, signals, emergency roadside telephones (SOS) and traffic monitoring on England's motorway network including, until 2011, the National Traffic Control Centre. In September 2018 it commenced operating a bicycle-sharing system under contract to Transport for Edinburgh. In Scotland, Serco has operated the NorthLink Ferries ferry service since July 2012. It maintains Network Rail's fleet of infrastructure and maintenance trains at the Railway Technical Centre. From 1997 until 2004, Serco operated the National Rail Enquiry Service under contract to the Association of Train Operating Companies. ![]() Included in the sale was a management contract for the Old Dalby Test Track. In 1997 Serco purchased the Railtest business as part of the privatisation of British Rail. Serco has a contract in its own right to operate the Caledonian Sleeper between London and Scotland until 2030. It has a 50% shareholding in Serco-Abellio that has a concession to operate the Merseyrail franchise in Liverpool until 2028, and previously operated the Northern Rail franchise from December 2004 until March 2016. Serco has operated a number of train operating companies. In London, Serco operates the London Cycle Hire Scheme for Transport for London and operated the Docklands Light Railway from 1997 until 2014. Serco is contracted to the Department for Work and Pensions (DWP) to provide telephone advice on behalf of DWP to recipients of Support for Mortgage Interest (SMI), which ends in April 2018. Serco operates the National Border Targeting Centre for UK Visas and Immigration and provides the carrier gateway, which is the interface between carriers and the agency. The sum equated to around £200 for each of its 45,000 workers. In August 2022, Serco announced that it would distribute £9 million in one-off payments to about 45,000 non-management staff as the firm lifted its profit guidance and dividend. In September 2017, Serco announced that it would be combining its UK and Europe operations. Rishton had been on the Board since September 2016. John Rishton was appointed as Non-Executive Chairman in Spring 2021, succeeding Sir Roy Gardner who held the position from May 2015. Serco made a loss of £991 million in 2014, reducing to a loss of £69.4 million in 2015. Lyons referred to “operational mis-steps” for which he took “ultimate responsibility”, but said he had not been forced out. On 17 November 2014, it was announced that Alastair Lyons would resign from his position as chairman of Serco. He said the company was suffering from ministers’ improved ability at driving a bargain, and claimed that “the Government has got much more adept at writing contracts and transferring risk to the private sector”. The new chief executive Rupert Soames sold off "scores of divisions". In November 2014 its share price, which stood at 674p before the taxpayer scandal broke in 2013 collapsed to 218.7p, after four profit warnings. On 29 December 2008, Serco acquired SI International. It changed its name to Serco in 1987 and has been a London Stock Exchange listed company since 1988. Following the takeover of RCA by General Electric in late 1985, RCA Services Limited was bought out by its local management. Serco was founded in 1929 as RCA Services Limited, a United Kingdom division of the Radio Corporation of America and initially provided services to the cinema industry. ![]()
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